Tony Abbott has a degree in Economics!

Discussion in 'Markets & Economies' started by TheEnd, Aug 23, 2013.

  1. TheEnd

    TheEnd Well-Known Member

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    Just reading through my 'Labor killed the economy' thread and someone mentioned Tony Abott has a degree in economics..... Surely this has GOT to be the best thing for the country in the coming election.....Someone that actually understands economies and how the world really works..... O.k he may cut spending in a few places but it surely will be necessary to save the economy and stop waste money in the wrong places.... I just wish he would cut electricity costs because that is one of the main expenses killing business at the moment after all the increases we've had in the last 3 years..
     
  2. Argentum

    Argentum Active Member

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    i reckon the job "economist is a made up job kind of like having a personal assistant that only tells you: You look great and even when you are doing poorly in lots of things they point to something else to show you are doing well
     
  3. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    I agree about the electricity thing, it is a severe drag on all businesses who do not receive any compensation. A cafe with 12 fridges, freezers, display cases and cool rooms for example is absolutely hammered by the power cost increases.

    As for Abbott's degree in economics it may or may not be a useful thing if he wins government but it is certainly better than a degree in submission to militant unions and the Greens. The Libs won't be able to save the economy, Labor had damaged it too badly and now the GFC is finally reaching us via the China slowdown but at least a Liberal government will bring back some confidence from the private sector and encourage employment uptake and also importantly it will close a chapter on an Australian government that is rotten with corruption and that is disintegrating from the inside from factional hatred.
     
  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Someone said that an economist is a person who didn't have enough charisma to become an accountant.
     
  5. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    Electricity pricing is a PITA for everyone not just business.--- we (QLDers) copped a 20% increase this year and our network is still government owned. You poor people south of the border where everything is in private hands have it much worse.





    I also like the fact that you admitted Abbot wont save anything -- aint that the truth, something we CAN agree on.
     
  6. TheEnd

    TheEnd Well-Known Member

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    Well mate somethings gotta change cos its scary out there.....The costs of living are as high as they have ever been and these electricity increases have caused most of the problems.....My local garage owner was telling me his power bills have gone up $300 per month just to keep the lights on from 6am to 7pm and run the workshop.... And these businesses don't get any rebates on all these power bills either!
     
  7. Big A.D.

    Big A.D. Well-Known Member Silver Stacker

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    Well, apart from the tax deduction.

    I wouldn't mind paying my house's electricity bill with pre-tax dollars.
     
  8. willrocks

    willrocks Well-Known Member Silver Stacker

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    If only he had some integrity.
     
  9. col0016

    col0016 Active Member

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    I doubt he could fuck it up as much as Rudd... no doubt they'll compete to see who can take away the most civil liberties, but Libs will probably at least try to balance the budget at the same time.
     
  10. volrathy

    volrathy Active Member

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    Cheapest plan I can find for Queensland is 39.14 kwh

    Im currently paying NSW central coast - 24.10 kwh
     
  11. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    lol you are obviously not looking in the right spot then
     
  12. volrathy

    volrathy Active Member

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    I was looking at prices in brisbane
     
  13. Court Jester

    Court Jester Well-Known Member Silver Stacker

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    well you couldnt have possibly been as we dont pay anywhere near 40c / kwh for residential electricity

    here are the correct numbers for the wowsers

    Standard rates pre discount INC GST

    QLD: FLATRATE : 29.4030
    + Daily Charge of 55.2406
    http://www.originenergy.com.au/file...sidential_Energex_Standard Published Rate.PDF


    Average family usage of 20 kw/h per day over a year total cost : $2348


    NSW: SLIDING SCALE : 27.39 for the first 1000kwh
    29.018 for the next 1000kw/h
    31.328 for the remainder

    + Daily charge of: 78.10
    http://www.originenergy.com.au/file...sidential_AusGrid_Standard Published Rate.PDF

    Average family usage of 20 kw/h per day over a year total cost : $2509

    so in NSW it costs you an extra $161 in after tax dollars per year for an average family of 4 for electricity
     
  14. markcoinoz

    markcoinoz New Member Silver Stacker

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    You have got to be kidding.

    ECONOMICS = LETS ASSUME

    There lies the heart of the problem.

    That is the primary reason why many economies are fractured.
    Politicians have stepped away from reality, applied austerity measures through corporatisation and over regulation whilst flogging their own dead horse
    of "We know what's good for the people".

    That's the point.

    They don't know.
     
  15. goanna

    goanna Member Silver Stacker

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    <Other stuff snipped>

    Yes, that's true, they don't get rebates, they just pass any price increase onto the consumer.
     
  16. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    The problem for the majority of small businesses is that they can't because people won't tolerate price rises. The small businesses pass on in the form of cutting staff.
     
  17. doomsday surprise

    doomsday surprise Active Member Silver Stacker

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    Is that the same sort of degree that Paul Krugman and his ilk have? An economics degree is a nothing degree, about as useful as an arts degree.
    Abbott doesn't understand the economy any more than Rudd does.
     
  18. AngloSaxon

    AngloSaxon Active Member

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    Depends, Doomsday, on what was taught in his degree. When I did my economics courses it was all economic theory and free market economics. There was no Keynsian stuff that Krugman would spruik.
     
  19. Earthjade

    Earthjade Member

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    I have an Economics degree from a well-regarded Australian university and let me tell you - it doesn't teach you shit about how to actually manage a real economy.
    As someone mentioned - too many models and tidy assumptions that fall apart as soon as applied to reality. Then they make new models and assumptions to explain why their original models didn't work.
    Economics is the modern day equivalent of academic quackery. Not all of it is useless, but the majority of it is.
     
  20. TheEnd

    TheEnd Well-Known Member

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    Oh great, here I was thinking the country might have a chance at getting in the black again and prospering a little even while the U.S continues to go backwards!
     

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